NZD/USD Signal Update
Yesterday’s signals expired without being triggered as none of the key levels were reached.
Today’s NZD/USD Signals
Risk 0.75%
Trades must be entered between 8am New York and 5pm Tokyo times today.
Long Trade 1
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6538.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 2
* Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.6500.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 1
* Short entry following a bearish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6600 and 0.6636, especially if the bearish rejection is confluent with the higher bearish trend line.
* Place the stop loss 1 pip above the local swing high.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
NZD/USD Analysis
It looks like things are finally getting interesting as we come close to the resistance zone beginning at the round number of 0.6600.
We might hit this number during the next Asian session.
A rejection of the trend line should be an especially strong signal to go short.
There is nothing due today regarding the CHF or the USD. It is a public holiday today in the U.S.A.